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O’Leary Ventures chairman Kevin O’Leary explains how the United States can fix trade and economic issues with China ‘once and for all’ on ‘The Evening Edit.’
Chinese President Xi Jinping will embark on a week-long trip to shore up ties with regional trade partners on Monday, China’s foreign ministry says.
Xi will visit Cambodia, Vietnam and Malaysia, seeking to stabilize China’s trade ties following President Donald Trump’s massive tariff hike.
Chinese Commerce Minister Wang Wentao argued this weekend that Trump’s tariffs “inflict serious harm on developing countries.”
Vietnam imported over $161 billion worth of Chinese goods in 2024, and Malaysia imported over $101 billion, according to the Agence France-Presse.
CHINA INCREASES TARIFFS ON US IMPORTS TO 125% FROM 84%
Trump says Xi Jinping, China’s president, knows where he stands when it comes to tariffs. (Ton Molina/Bloomberg via Getty Images / Getty Images)
Both Vietnam and Malaysia were hit hard with Trump’s first wave of tariff’s last week, though Trump has since relaxed the tariffs and provided an exception for consumer electronics.
Vietnam exported $136 billion in goods to the U.S. last year, and Malaysia sent over $52 billion.
TRUMP TARIFF SPIKE FUELS NEW HOUSE BILL TO LOCK CHINA OUT OF US GOVERNMENT TECH
China has vowed not to back down in the face of the massive 145% tariff Trump leveled on the country last week. Trump paused the high-level tariffs for virtually every country aside from China.
President Donald Trump, left, and Chinese President Xi Jinping. (Getty Images / Getty Images)
Trump remains “optimistic” that the U.S. and China can strike a deal over tariffs, White House press secretary Karoline Leavitt said Friday.
TRUMP SAYS HE’LL ‘TAKE A LOOK’ AT EXEMPTING SOME LARGER US COMPANIES HIT ESPECIALLY HARD BY TARIFFS
“The president has made it very clear he’s open to a deal with China,” Leavitt said.
“The president … would be gracious if China intends to make a deal with the United States. If China continues to retaliate, it’s not good for China. The United States of America is the strongest, best economy in the world, as evidenced by the more than 75 countries who have called the administration immediately to cut good deals,” she added.
Fox News contributor Jason Chaffetz discusses how Democrats are alleging incidents of insider trading amid the pause of President Donald Trump’s tariffs on ‘The Bottom Line.’
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Leavitt declined to say whether the U.S. is currently engaged in trade negotiations with China.
